Series B Funding Enables Product Roadmap Expansion and Accelerates Innovation to Meet the Multi-Terabit Bandwidth Requirements of Cloud-Based Infrastructure
SAN JOSE, Calif.–(BUSINESS WIRE)–#400G–Point2 Technology, a leading provider of high-performance, low-power connectivity solutions for cloud and 5G infrastructure, announced today a $22M Series B funding round. The round was led by GU Equity Partners, LLC with participation from new investors Molex Ventures, Samsung Securities, Shinhan Capital, Tigris Investment, K2 Investments and Korea Omega Investment. Existing investors GU Equity Partners, Timefolio Investment, Nautilus Venture Partners, Quantum Ventures Korea and Walden International also participated in the round of funding.
Point2 Technology designs and manufactures low-power, high-speed, point-to-point interconnect solutions designed to meet the multi-terabit bandwidth requirements of 5G infrastructure and cloud-based data centers. These network requirements are growing rapidly due to compelling economics driving interconnect speeds beyond 400G and even 800G. Next-generation data centers require high-performance, low-power and cost-efficient interconnect solutions that significantly increase reach and capacity.
Point2 Technology has solved the fundamental problems of copper and optical interconnects that limit the performance and increase the total cost of ownership of high-speed networks. Point2’s high-performance interconnect solutions provide a cost-effective alternative to expensive active optical cables (AOC) and performance-limited direct attach cables (DAC) to proliferate 400G disaggregated chassis configurations for hyperscale data centers. The company’s scalable interconnect solutions increase reach and capacity for active electrical cable (AEC), optical and wireless solutions to address the growing demand for high-speed, high-capacity data center, cloud and edge-optimized technologies.
“We are pleased to have a new investor of the caliber and reputation of Molex Ventures join our existing group of top-tier investors,” said Sean Park, CEO of Point2 Technology. “Enthusiastic investor support culminates an exciting year of growth across all dimensions of our business and validates our momentum in the fast-growing infrastructure interconnect market. Point2 has developed innovative technologies that dramatically drive down the costs and power demands of high-performance connectivity solutions for multi-terabit 5G and cloud-based data centers. This funding round will help us expand further into multiple market segments and develop new products as we position the company for long-term growth.”
“Point2 Technology has the leadership team, breakthrough technology and the track record of execution necessary to deliver industry-leading interconnect solutions to its customers and superior financial performance for investors,” said Kangwoon Lee, senior executive director, GU Equity Partners. “The company is very well positioned to help grow the optical interconnect networking industry into the multi-terabit era. We look forward to partnering with the Point2 Technology team to support the company’s long-term growth strategy.”
“Point2 Technology’s continued innovation in high-performance and low-power mixed-signal processing will enable the next-generation connectivity solutions for cloud and 5G infrastructure,” said Lily Yeung, Vice President, Molex Ventures. “We look forward to working with Point2 Technology to bring innovative, cost-effective connectivity solutions to our mutual customers.”
Point2 Technology plans to use the new round of funding to execute its growth strategy by expanding its product roadmap and scope of product capabilities as the company expands into multiple markets and accelerates deployments. The company helps customers get to production quickly with its comprehensive reference design including a printed circuit board (PCB), comprehensive software and built-in self-test capabilities optimized for high-volume manufacturing.
Point2 is expanding its management and engineering team and hiring in key areas. Visit http://www.point2tech.com/careers to learn more about career opportunities at Point2 Technology.
About Point2 Technology
Point2 Technology, headquartered in San Jose, Calif., designs and manufactures low-power, high-speed, point-to-point interconnect and range enhancement solutions designed to meet the bandwidth requirements of cloud-based data centers and 5G infrastructure. Founded by an accomplished team from Marvell, Finisar and Samsung, Point2 is a leading innovator that is reimagining data center and 5G cloud infrastructure interconnects in the multi-terabit era. www.point2tech.com
Contacts
Reza Norouzian
Marketing
info@point2tech.com
Youngmin Yu
Sales
sales@point2tech.com
